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Aura Minerals: Almas’ 2nd Issuance of Brazilian Debentures
ROAD TOWN, British Virgin Islands, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Company” or “Aura”) in continua
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Company” or “Aura”) in continuation to the Press Releases disclosed by the Company on September 8th and September 25th, 2024, informs its shareholders and the market in general that its subsidiary, Aura Almas Mineração S.A. (“Almas”), has settled and closed the public offering of its 2nd (second) issuance of simple debentures, non-convertible into shares, secured and with additional surety guarantee, in a single series, for public distribution under the automatic registration procedure, approved at the Company's Extraordinary General Meeting held on September 8th, 2024 (“Debentures”)., in the amount of BRL 1.0 billion (~ US$ 175MM), On the same date, Almas entered into a swap agreement (“Swap”) with Banco Itaú S.A. to fully hedge the Debentures. Under the terms of the Swap, the Company will take an active position of BRL 1.0 billion (~ US$ 175MM), receiving compensatory interest corresponding to 100% (one hundred percent) of the accumulated variation of the DI Rate, plus an exponential surcharge of 1.60% (one point six zero percent) per annum, and will pay the exchange rate variation of Brazilian Reais vs. U.S. Dollars, plus a fixed linear rate of 6.975% per annum. The Swap transaction has a principal and interest amortization schedule identical to the principal and interest amortization schedule of the Debentures. Rodrigo Barbosa, Aura's CEO commented: “We are glad to share the results of our recent debenture issuance. Initially set at BRL 500 million (~ US$ 88MM) with an anticipated cost of CDI + 1.75% per annum (approximately 7.13% in USD), we concluded the transaction with a BRL 1 billion (~ US$ 175MM) at a reduced rate of CDI + 1.60% per annum (6.975% in USD), reflecting an oversubscribed order book. This achievement is a result of the excellence that Aura pursues. It is a testament to the hard work and dedication of our team under the Aura 360 culture”. Transaction Highlights: Total Debentures Issued, Subscribed and Paid-In: 1,000,000 (one million). Total Amount: BRL 1,000,000,000.00 (one billion Brazilian reais), approximately US$ 175 million Maturity Term: 6 (six) years. Remuneration: 100% of the accumulated variation of the DI Rate – Interbank Deposits, plus a surcharge of 1.60% (one point si...